Illinois Academy of Real Estate

Real Estate Education With a Personal Touch

The Illinois Academy of Real Estate

We are an Illinois real estate pre-license and real estate continuing education provider. 

 Our mission is to promote the professional development of our students, clients and friends by providing accurate and relevant information regarding real estate education, licensing and careers and to serve the real estate industry with diligence and integrity.

We offer the following Illinois real estate classes and courses:

• Illinois 45 hour salesperson real estate licensing class - classroom
• Illinois 45 hour salesperson real estate licensing class - correspondence
• Illinois 45 hour salesperson real estate licensing class - on line
• Illinois real estate broker licensing class - classroom
• Illinois real estate broker licensing class - correspondence
• Illinois real estate broker licensing class - on line
• Illinois real estate continuing education classes - correspondence
• Illinois real estate continuing education classes - on line
• Illinois Broker Management continuing education class - classroom only

About our Services

The Illinois Academy of Real Estate provides a wide range of services to meet the needs of our clients.  In addition to real estate classes, we provide counseling and educational materials designed to promote the professional development of our students.  Our services include:

• Counseling individuals interested in pursuing a career in real estate.
• The selection of material and guidance designed to assist the attorney applicant in preparing for and passing the Illinois real estate exam.
• The selection of material and guidance designed to assist students seeking reciprocal licensing.
• Providing exam preparation material reviewed and selected to assist the student in passing the Illinois real estate licensing exam.
• Informative updates about changes and trends within the industry.
• Post license counseling.

 About Our Classes

 In order to meet the needs of many different types of students, we offer a variety of educational programs.

•  Classroom pre-license and continuing education  Illinois real estate classes designed for those who enjoy networking and the exchange of ideas on a personal level.
•  Home Study pre-license and continuing education Illinois real estate classes using hands on material for study and guidance.  Allows for scheduling flexibility.
•  On line pre-license and continuing education Illinois real estate classes designed for the busy individual who does not need supplemental material and who feels comfortable with on line learning.  Allows for scheduling flexibility.

   Put our 28 years of experience to work for you today!

Tips for Using This Site

January 2008 Newletter

January 2010 Newsletter

Illinois Real Estate License Act Passes! Effective Now!

Provisions effective Dec. 31 2009

On December 31, Governor Quinn signed SB 1894 into law.  SB 1894 contains the rewrite of the Illinois Real Estate License Act.

The Act contains numerous changes and additions, including a change in the requirements to obtain and maintain a license, and additional consumer protection  and enforcement provisions.  Changes in licensing classification from salesperson to broker, education requirements and the new license classification of managing broker become effective May 1, 2011.

Some of the highlights that become effective as of December 31, 2009 include:

·                                 Definitions – lead, regular employee (Section 1-10). The Act defines a “lead” as a name of a potential buyer, seller, lessor, lessee or client of a licensee and includes it under the definition of “broker” when a person is exchanging a lead for compensation. In addition there is a new definition for “regular employee.” A regular employee for purposes of the Act is a “person working an average of 20 hours per week” who would be considered a regular employee under IRS tests.

·                                 Change of Address (Section 5-41). The Act now clearly requires licensees to notify the Illinois Department of Financial and Professional Regulation (IDFPR) of every address where they practice and if they change the address of any office where they practice.

·                                 Advertising – Internet (Section 10-30). The Act has been amended to clarify that all methods of advertising are covered. In other words it clearly includes real estate advertising through the use of any medium, including on the Internet.

·                                 Advertising – deceptive and misleading (Section 10-35). Requires real estate licensees to tell consumers if they are going to sell or share any information that consumers might give them. Licensees may not use a URL or domain name that is deceptive or misleading. They may not “deceptively or without authorization frame another real estate brokerage or multiple listing service website.” Finally, they may not use meta tags, keywords or any other devices to mislead consumers or to deceptively drive them to their website.

·                                 Company Policy (Section 10-40). The Act clearly requires real estate brokerage offices to have a written office policy covering topics such as agency, fair housing, non-discrimination and harassment, clients’ confidential information, advertising, sponsored licensees’ supervision and training, disclosures, risk management, earnest money and escrow handling. (NOTE: The list is not exhaustive but used as an example.)

·                                 Agency – written notice (Section 15-15(b)). In a situation where a designated agent represents more than one buyer making contemporaneous offers on the same property, that agent must give written notice of this to all buyers and give buyers the opportunity to be referred to another designated agent if the buyer chooses to do so.

·                                 Agency – written disclosure (Section 15-35(a)). The Act states more clearly that EVERY client of a licensee must be given written disclosure as to who his/her designated agent is before beginning to work for that person and that the brokerage company must retain a copy of this disclosure. This notice can be part of a written brokerage agreement with the client.

·                                 Dual Agency – disclosing terms (Section 15-45(a)). When a licensee is acting as a disclosed dual agent, the amended Act prohibits the licensee from disclosing to the other party without permission the price or terms a party is willing to accept or pay.

·                                 Discipline - miscellaneous (Section 20-20). IDFPR can impose discipline upon a licensee if he/she violates the Act when dealing with his/her own property. Limits on monetary civil penalties have increased. A licensee can be disciplined based on a guilty plea in addition to a conviction of a crime. A person can be ­disciplined if he/she is determined to be unable to practice with the necessary degree of skill and judgment (to be determined by a hearing).

·                                 Guaranteed Sales Plans (Section 20-20(a)(29)). If this is used, the licensee must determine the guaranteed purchase price before beginning efforts to market the property and if the licensee purchases under the guarantee, he/she must cancel the listing or the listing period must be over.

·                                 Discipline – drugs/alcohol (Section 20-20(e)). If in enforcing the provisions of the Act, IDFPR believes the licensee is incompetent or under the influence of drugs or alcohol the licensee may have to submit to a mental or physical exam.

·                                 Enforcement – continuing violations (Section 20-21). IDFPR can issue an injunction or a cease and desist order if it believes there is a continuing violation of the provisions of the Act. A hearing will be scheduled to assess the facts.

·                                 Enforcement – private right of action (Section 20-21(c)). The Act now contains a private right of action where private citizens can start an action seeking to stop the unlicensed practice of real estate brokerage.

NOTE: This is a summary of some of the provisions that will Illinois real estate licensees.  It is meant to point out major changes.  The licensee is advised to consult the Act and competent council for additional changes and interpretation.

Summary of the changes in Licensing categories and educational requirements that become effective May 1, 2011.

Source: Illinois Association of Realtors®.
 

Basic Real Estate Transactions 45 Hour Salesperson Classes

January Pre-License  Real Estate Class Schedule

January 5, 2010

Hillside - Instructor: Lee Baker

501 N. Wolf Rd., Hillside IL

Basic Real Estate Transactions

Tuesday and Thursday - 6:00 PM to 9:00 PM

Course fee $300.00

To register: Call Lee at 708-544-1717

January 19, 2010

 Aurora- Instructor: Mike Fair

318 N. Lake Street, Aurora, IL

Basic Real Estate Transactions

Tuesday and Thursday - 6:30 PM to 9:30 PM

Course fee:  $295.00 

Register on line or call 630-844-0222

Class size: Minimum 10     Maximum 30 

Home Study Always Available!  Start at any time!

Broker CE Classes, South West Suburbs

The Illinois Academy of Real Estatewill be offering Illinois Broker Management Continuing Educationclass sessions and home study testing sessions in the south suburban area.

The 6 hour required broker management class meets from 9:00 AM to 4:00 PM with test immediately following.  The course fee is $110.00 if you have the text from a previous broker management class and $125.00 if you don't. 

Course fee includes: REEF administrative fee, testing, Illinois Broker Management Supplement workbook, Course workbook and update on changes to the Illinois Real Estate License Act.

A class is scheduled for Wednesday January 27 and  a home study testing session on Tuesday January 26, at the Hilton Garden Inn, 18335 LaGrange Rd., Tinley Park, Illinois. 
Registration required 10 business days prior to class date.

In addition, classes will be conducted at the Hampton Inn and Suites, 20920 Matteson Avenue, Matteson Illinois on Wednesday February 3, Saturday March 20, and Wednesday April 7.  Registration required 10 business days prior to class date.

We will also be conducting testing sessions for our 12 hour Continuing education home study package at the Hampton Inn.  The sessions include testing and a License Act update and will meet from 9:00 AM to 12:00 PM on Tuesday, December 29, 2009; Saturday February 13, 2010; Wednesday March 10, 2010; and Saturday April 10, 2010.  Registration required 10 business days prior to class date. 

We are also available to teach group classes at your location or place of business.  All materials provided.  Contact us for details.

This is a similar program to the one conducted by our instructor,

Ed Blass and will be instructed by Mike Fair a licensed broker for over 30 years and licensed instructor for over 15 years.

You may enroll in classroom only, classroom and home study or home study only, depending on how many hours you need to complete your CE requirements.  Don't know how many hours you need?  Have your license number ready and click hear to access the Illinois Department of Financial and Professional Regulation CE look up tool.

Class size limited!  Enroll Today!

If you have any questions, please contact us.